Early e-bike investors eye profits as Forest opens to retail buyers

If you invested in e-bike firm Forest back in 2021, you might be sitting on a tidy profit. The London-based company is now offering existing shareholders the chance to cash out their gains for the first time in five years — and new retail investors can buy in at the same price as major institutions.

Here’s what you need to know if you’re thinking about getting involved.

What’s happening with Forest?

Forest, which launched in 2020, first raised money from retail investors via Crowdcube in 2021 at 68p per share. Fast forward to May 2026, and those shares are now trading at just under £4.60 — meaning early backers could be looking at a return of around 575% if they decide to sell. That’s the same price institutional investors paid in a recent £27 million funding round announced in April.

The company has grown significantly since launch. It now has 1.5 million users and operates across 18 London boroughs. In 2025 alone, revenue jumped 64% year-on-year to £22.5 million. Forest even displaced rival Lime in some areas, showing real traction in London’s competitive e-bike market.

Should you invest?

Before you get excited, it’s important to understand the risks. These shares are being sold on Crowdcube’s private market platform, which means the company is not listed on a stock exchange. Private company shares are much harder to sell if you need cash quickly — this is called “illiquidity.” There’s also a real risk you could lose your entire investment if the business fails.

This type of investment is generally only suitable if you can afford to lock your money away for years and can stomach the possibility of losing it all.

If you do decide to invest, you’ve got nine days from 27 May 2026 to buy shares via Crowdcube. Remember: only invest money you can genuinely afford to lose.

For more information on investing platforms and how to choose one safely, check out our guide to the best investment platforms for UK investors.